90 Portland Street

Nestled in the vibrant community of Mimico, this exceptional property at 90 Portland Street, Etobicoke, presents a remarkable opportunity for those seeking a Multi-Family Home for sale in Etobicoke . This well-maintained multiplex, featuring a sturdy brick and concrete exterior, boasts a two-storey design that is both functional and appealing. With six renovated one-bedroom units, this property is not only a turnkey investment but also a prime example of how to capitalise on the high tenant demand in the area.

The property is situated on a generous lot measuring 50 x 125 feet, providing ample space for potential outdoor enhancements or simply enjoying the spacious surroundings. The building itself is designed to accommodate a total of 12 rooms, including six well-appointed kitchens and six bathrooms, ensuring that each unit is self-sufficient and comfortable for its occupants. The absence of a den or additional rooms allows for a streamlined living experience, perfect for those looking for simplicity in their rental arrangements.

At 90 Portland Street, Etobicoke, you will find that each of the six units is thoughtfully designed to maximise space and functionality. The lack of a family room or additional furnishings means that tenants can personalise their living spaces to their liking, creating a homely atmosphere. While there is no central vacuum system or air conditioning, the radiant heating throughout the building ensures that residents remain cosy during the colder months. The finished basement adds further value to this Multi-Family Home for sale in Etobicoke, providing extra storage or utility space that can be utilised as needed.

Parking is made easy with a driveway that accommodates up to six vehicles, a significant advantage in this bustling area. The property is connected to municipal water and sewer systems, ensuring that all essential services are readily available. Although there is no pool or garage, the outdoor space can be leveraged for various activities, making it a versatile option for potential tenants.

The investment potential of this property is further underscored by its impressive rental income. With a solid cap rate of 4% and a net operating income exceeding $93,000, this Multi-Family Home for sale in Etobicoke is a lucrative opportunity for investors. The high demand for rental properties in Mimico, coupled with the recent renovations completed in 2017—including updates to the shingles, trusses, soffits, eaves, and chimney—ensures that this property remains a sought-after choice for tenants.

Located at the crossroads of Portland and Milton, 90 Portland Street, Etobicoke, benefits from excellent accessibility to local amenities, transport links, and recreational facilities. The Mimico community is known for its friendly atmosphere and vibrant culture, making it an attractive place for individuals and families alike. The presence of internet connectivity in each unit further enhances the appeal for modern tenants, catering to their needs for remote work and leisure.

In summary, this Multi-Family Home for sale in Etobicoke at 90 Portland Street, Etobicoke, is an outstanding investment opportunity that combines a prime location with solid rental potential. With six renovated units, ample parking, and a well-maintained structure, this property is poised to attract a steady stream of tenants. Whether you are an experienced investor or new to the property market, this multiplex offers a unique chance to own a piece of the thriving Mimico community. Don’t miss out on this exceptional opportunity—explore the potential of this Multi-Family Home for sale in Etobicoke today!

Mimico, nestled within the vibrant city of Etobicoke, offers a charming blend of urban convenience and lakeside tranquility. This picturesque neighbourhood is characterised by its proximity to Lake Ontario, providing residents with scenic waterfront parks and walking trails that invite leisurely strolls and outdoor activities. The area boasts a diverse mix of housing options, from quaint bungalows to modern condominiums, catering to a variety of lifestyles. With a rich history reflected in its heritage buildings, Mimico also features a lively array of local shops, cafes, and eateries, fostering a welcoming atmosphere. Excellent public transport links ensure easy access to downtown Toronto, making Mimico an appealing choice for those seeking a balanced lifestyle in a friendly, community-oriented setting.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. The closest option is George R Gauld Junior School, just 0.2 km away, offering elementary education (JK to 5) under the Toronto District School Board. For a broader range of grades, John English Junior Middle School is only 0.9 km away, providing both English and French programs from JK to 8, with a commendable school rating of 7.1. St. Louis Catholic School, situated 0.7 km from the property, offers elementary education (JK to 8) in both English and French, and has a solid rating of 7. Additionally, Lakeshore Collegiate Institute, located 2.8 km away, serves high school students (grades 9 to 12) but currently has a lower rating. For Catholic education, Bishop Allen Academy, 1.7 km away, is highly rated at 9 and caters to grades 9 to 12. Overall, this area boasts a variety of public and Catholic schools, providing excellent educational opportunities for children of all ages within a short distance from the property.

Key Statistics of the Neighbourhood

The area surrounding the property has a population of 639 residents, with an average household size of 2.1 individuals. The community has a median age of 40.1 years and an average household income of $94,000. Approximately 16% of the population is classified as low-income, while a significant portion, 54.46%, identifies as single. Families with children make up 32.35% of households, indicating a diverse demographic. The area is also home to a notable immigrant population, comprising 30% of residents. Renters dominate the housing market, making up 75% of the community, while only 3.33% of households are condominiums. The average property price in the area is around $1,000,000, reflecting the demand for housing. Educational attainment is high, with 55.26% of residents holding a college or university degree. However, a considerable 40.35% of the population is not actively participating in the labor force. Overall, this demographic profile suggests a well-educated, predominantly single community with a mix of families, a significant rental market, and a diverse population.